The insurance approach for covering boats and boating property is quite like what is used to protect cars and homes. Essentially insurance is offered on a package basis, meaning that there is coverage for physical property as well as protection against the legal and financial consequences of injuring others or damaging property that belongs to others.
Property Coverage - Typically a boatowners policy covers:
Items and situations that aren’t covered include boating property that is used in business activity, losses that involve races or competitions (an exception is made for sailboats) and boats that are used, full-time, as residences.
Liability Coverage - Besides protecting boating property, a boatowners policy also responds to claims or lawsuits caused when another person is injured, and /or when another person’s property is damaged or destroyed.
Employees routinely use their own vehicles in their jobs or just to run errands for their employer. Does your company have protection in case of an accident and both your worker and your company are sued?
Motor vehicle theft takes a human as well as a financial toll
A motor vehicle—car, SUV, truck, bus or motorcycle—is stolen in the United States approximately every 45 seconds. In addition, parts of cars, like airbags and catalytic converters (which are stolen for their recycling value) are stolen out of the cars themselves. Cars and car parts stolen in the United States often wind up on overseas markets, making recovery impossible.
And, though armed auto theft represents a small percentage of the incidents, carjacking is a violent crime that can add a dire emotional toll and even bodily harm to the financial loss.
Auto theft is covered under the comprehensive portion of a car insurance policy. However, as always, it's better to prevent a loss than to deal with the fallout of having your vehicle stolen.
Prevent motor vehicle theft
There are a number of things that make your vehicle attractive to thieves—including make, model and the value of certain parts. Know that it's not always the most valuable, the flashiest or the most expensive car makes and models that are most desirable. So whatever your car, don't make it convenient for would-be criminals. Take these precautionary measures—and check with your insurer; some may even help lower your premium.
What constitutes high-risk?
Ask for help from one of our insurance agents
We have many markets and can find the one that best suits your needs.
If you own a home; you’ll want to think about the best way to insure it. One goal is to match your needs to the right company. Some companies like new, high-valued homes while some companies do well with older or historic preservation homes. Others are comfortable with country homes or old farm homes. It pays to allow our agency to shop around for you, both for the best coverage and for a company that likes your type of home.
There are two common levels of coverage that you may consider:
Named causes of loss coverage–The policy only covers certain causes of loss to your property. You must prove to the company that one of the covered causes damaged your property.
Risks of physical loss–This covers all causes of loss except those that are excluded. The company must prove that one of the excluded causes of loss damaged your building.
You may want to discuss other types of homeowners coverage if you own a different type of residence such as a modular home, mobile home, apartment, town home, condominium or you have personal living space in a commercial building.
A Basic Homeowners policy usually provides the following:
Life is unpredictable. It pays to know your stuff.Home insurance is important for both homeowners and renters. Homeowners need to purchase insurance to protect their homes and personal property. Those who rent need insurance to protect their furniture and personal property. Everyone needs protection against liability for accidents that injure other people or damage their property.
Whether you live in tornado alley, wildfire zones or along coastlines prone to flooding and hurricanes – now is the time to properly insure your home and possessions.
Each year severe weather disasters across the country generate billions of dollars in damages. But research suggests more than half of consumers do not have an inventory of their possessions. Now is the time to make sure you have properly insured your 'stuff.'
Creating a simple home inventory helps you track what you own and what it is worth, making important insurance decisions easier.
How to create a home inventory
New drivers can send a parent’s stress-level soaring. Here are some strategies to control a young driver's impact on your peace of mind.
Everyone has insurance issues, even when you’re young and just starting out. Your parents and others mean well in giving you advice, but unless they’re in your same life stage, it’s hard for them to understand.
Understanding insurance doesn’t have to be rocket science. With a little help, it can be easy to make smart choices. In fact, we have lots of ways to increase your insurance IQ. Start by taking our 10-question online quiz at https://insureuonline.org/quiz_under30.htm. Then consider the following fast facts. Some may blow your mind.
Do you operate a business from your home?